Vietnam Economy Grows Better Than Estimated in Second Quarter - BNN Bloomberg

Workers assemble equipment inside a wind turbine tower at a CS Wind Corp. factory in Tan Thanh, Ba Ria-Vung Tau Province, Vietnam, on Wednesday, Feb. 15, 2023. Renewables will dominate the growth of the world’s electricity supply over the next three years, according to the International Energy Agency, as countries race to get to zero emissions. Photographer: Linh Pham/Bloomberg , Bloomberg

(Bloomberg) -- Vietnam’s economy grew better-than-expected in the second quarter, showing the trade-reliant nation still has momentum despite slowing global demand for goods.

Gross domestic product in the quarter ending June rose 4.14% from a year ago, the General Statistics Office said in a statement Thursday. That compares with the median estimate for a 3.8% growth in a Bloomberg survey.

A recovery in manufacturing is key to bolstering overall activity in Vietnam, where exports are a main driver of the economy. For its part, the central has delivered four rounds of interest rate cuts this year to support the economy after recovery showed signs of running out of steam.

--With assistance from Tomoko Sato, Nguyen Xuan Quynh, Nguyen Kieu Giang, Linh Vu Nguyen and Cecilia Yap.

©2023 Bloomberg L.P.

Adblock test (Why?)

Vietnam Economy Grows Better Than Estimated in Second Quarter - BNN Bloomberg
Read More